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January 19, 2023
Question

Can short term stock losses be carried back against prior year's short term gains?If so, how is that accomplished in Turbotax?Thanks

  • January 19, 2023
  • 2 replies
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2 replies

Employee
January 19, 2023

A capital loss cannot be carried back to a prior tax year.

rjs
Employee
January 19, 2023

It's not a TurboTax limitation. The tax law does not allow capital losses to be carried back to previous years. This applies to both short-term and long-term losses.